Two persons were arrested by Delhi Police’s Economic Offences Wing (EOW) over their alleged involvement in crimes of fraud and cheating. The two are accused of launching bogus investment schemes to cheat investors on the pretext of investment in dairy projects through the entity, Pratistha Bazaar Pvt. Ltd.
As per the EOW, the accused have cheated around 44 people to the tune of Rs 1.5 crore and more victims may come forward. Also, the entity was not registered with the Reserve Bank of India (RBI) as a non-banking financial company (NBFC).The accused have been identified as 47-year-old Rajeev Kumar Sharma, who is a resident of Ram Ganga Vihar in Uttar Pradesh’s Moradabad, and 30-year-old Kundan Sharma, who is a resident of Muradabad’s Nand Colony.
The duo have been nabbed and relevant sections under the Money Circulation Schemes (Banning) Act along with the Reserve Bank of India Act were invoked.
